AppLovin Corporation $APP Shares Sold by Interchange Capital Partners LLC

Interchange Capital Partners LLC reduced its position in AppLovin Corporation (NASDAQ:APP) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,491 shares of the company’s stock after selling 448 shares during the quarter. Interchange Capital Partners LLC’s holdings in AppLovin were worth $872,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC raised its stake in AppLovin by 2.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 21,042 shares of the company’s stock valued at $7,366,000 after purchasing an additional 551 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in AppLovin in the 2nd quarter valued at $429,000. AG2R LA Mondiale Gestion D Actifs raised its stake in AppLovin by 8.4% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 8,731 shares of the company’s stock valued at $3,057,000 after purchasing an additional 679 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in AppLovin by 10.8% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 78,365 shares of the company’s stock valued at $27,434,000 after purchasing an additional 7,626 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in AppLovin by 1,143.9% in the 2nd quarter. AlphaQuest LLC now owns 510 shares of the company’s stock valued at $179,000 after purchasing an additional 469 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the completion of the transaction, the chief technology officer directly owned 3,360,104 shares in the company, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the transaction, the director owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,156,788 shares of company stock worth $514,863,333. Insiders own 13.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on APP. Piper Sandler increased their price objective on AppLovin from $500.00 to $740.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Weiss Ratings cut AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Scotiabank restated an “outperform” rating on shares of AppLovin in a report on Thursday, August 28th. Citigroup upped their target price on AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, BTIG Research upped their target price on AppLovin from $547.00 to $664.00 and gave the company a “buy” rating in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $605.13.

AppLovin Stock Performance

NASDAQ APP opened at $620.00 on Friday. The stock has a market cap of $209.72 billion, a PE ratio of 88.07, a P/E/G ratio of 3.37 and a beta of 2.53. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. AppLovin Corporation has a twelve month low of $158.33 and a twelve month high of $745.61. The stock has a fifty day simple moving average of $569.09 and a 200-day simple moving average of $424.16.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The company’s revenue was up 77.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. Equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.